New research has found that four in 10 parents have been forced to reduce their working hours due to the high cost of childcare - this figure rises to 45% among mothers alone

A survey of 2,000 parents with children up to five years old revealed 71% have seen their childcare arrangements affected by the cost of living.

Four out of ten parents have had to cut back on their work hours due to the high cost of childcare, this figure has rose to 45% among mums who found it more economical to reduce their working hours and stay home with their children.

The research was commissioned by Your Co-op Little Pioneers, which is offering the option to spread the cost of childcare and lower monthly bills, in an effort to help children access early years education.

As many as 88% cited the importance of returning to work due to its financial impact (43%), a longing to interact with adults more frequently (32%) and not wanting to let the career they've worked so hard for fall by the wayside (30%).

But parents also see nursey as an opportunity for their children to gain valuable skills at an early age. When at nursery their children develop social skills (69%), make friends (67%) and build confidence (63%).